Ethereum Daily New Address Count Plummets to Lowest Level Since December 2022
CryptoNewsTerminal Staff04 Aug, 2024
Ethereum Daily New Address Count Plummets to Lowest Level Since December 2022
Data from The Block shows that the 7-day average number of new addresses on the Ethereum network last week was 82,150. This represents a significant decline compared to recent months and marks the lowest level since December 2022. Analysts at The Block suggest that this drop in new address creation could indicate a decrease in the number of new users joining the Ethereum ecosystem. This could be due to a combination of factors, including the recent decline in the price of Ethereum and the ongoing bear market in the cryptocurrency sector. It is important to note that the number of new addresses created on a blockchain is not a perfect measure of user activity. However, it can provide some insights into the overall health of the network and the level of interest in the cryptocurrency.
